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Markets tumble as hardline Republicans threaten US debt deal | The Malaysian Insight

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Markets tumble as hardline Republicans threaten US debt deal

Asian markets sink on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit. – EPA pic, May 31 2023.

ASIAN markets sank today on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit and risk a catastrophic default that could hammer an already fragile global economy. Further signs that China’s post-pandemic recovery was fading added to the downbeat mood on trading floors, as did worries that the US Federal Reserve is likely to increase interest rates again next month.

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